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20081111 Tuesday November 11, 2008

United States Postal Service to cut 40000 jobs in first layoff in history

peakoil.com -> ksla.com :

"We lost 2 billion dollars and like any other business we have to stay afloat." And to keep from sinking, the United States Postal Service is considering cutting thousands of jobs nationwide. Lavelle Pepper with the post office in Shreveport says they too are feeling the affects of the same disease hitting the country ... a struggling economy. "We employ about 685,000 people. If we do layoffs it would include clerks, carriers, mail handlers across all crafts." Pepper says the postal service is looking to eliminate 40,000 jobs nationwide.

- If they are talking about the first layoff in the entire history of the US Postal Service, you'll probably have to go back to the 18th century. Horse riding and stuff. The employees of this organization have collectively survived the Civil War, the Great Depression, two World Wars, the 1970's oil crisis, the 1980's recessions, the 2000's tech bubble burst, and now they are finally defeated by the 2008 credit crisis?

This is serious stuff. This means that this could be worse than all of the above. These are early warning signs that this wave of mass layoffs is reaching out way beyond Wall Street, way beyond corporate America, and making a deep strike into government territory. Complete obliteration. Heads up. We are going straight into the Second Great Depression.

See also :

1. Wave of job cuts across corporate America, mass layoffs well beyond Wall Street
2. New York may lose 165000 jobs on mass layoffs due to credit crisis
3. London banks to cut 62000 jobs in mass layoffs as credit crisis worsens

(2008-11-11 21:27:19 SGT) [Biz] Permalink Comments [2]

Comments:

Holy %#@!
That is very bad news indeed.

Posted by Roborovskii on November 12, 2008 at 01:01 AM SGT #

The layoffs are craft employees only. right now we have approximately 1 manager to 16 employees. this company has to reduce ranks. it must reduce the wastefull cost also at the top. when 40,000 craft jobs are eliminated there will be more managers to do what? then what does the ratio to management to employee become? any bussiness would fail with these statisics!

Posted by 127.0.0.1 on November 12, 2008 at 08:23 AM SGT #

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